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AUREO Constitution

The name of this organization shall be the Association of University Real Estate Officials (hereinafter “the Association”).

ARTICLE II: PRINCIPAL OFFICE

The principal office of the Association shall be at the business address of the current president of the Association, unless otherwise specified by the Association Membership.

ARTICLE III: PURPOSE

The purpose of the Association shall be to advance by lawful means the common interests of colleges and universities relating to real estate administration, including management, negotiations, leasing, investment, development, acquisition, and disposition.

ARTICLE IV: MEMBERSHIP

Section 4.1. Institutional Members. Any college or university or other degree-granting institution of higher education or a foundation which is directly associated with and supports a college or university or other degree-granting institution of higher education (hereafter “college or university”) shall be entitled to become a Institutional Member of the Association with full voting and other Institutional Membership privileges, provided that:

(4.1.1) the college or university makes formal application for Institutional Membership in the form specified by the Members;

(4.1.2) the college or university continues to provide updated information regarding its real estate officials to the Association;

(4.1.3) the college or university is current in its payment of the dues established by the Association;

(4.1.4) each college or university which is a Institutional Member will be limited to one vote.

An institution which is not a college or university shall be entitled to be a Institutional Member of the Association with all the privileges of other Institutional Members upon the two-thirds majority vote of the Institutional Members at an Association meeting.

Section 4.2. Emeritus Members. Individuals shall qualify as Emeritus Members who 1) have been employees of Institutional Members in a real estate capacity for a minimum of five years, 2) are no longer employed in that capacity, 3) have registered for and attended three Association conferences, and 4) do not qualify for membership as an Associate Member, or as otherwise determined by the Executive Committee. Emeritus members shall apply for membership and shall pay dues at the same rate as Institutional Members. The names of all Emeritus Members shall be available to any Institutional Member upon request to the Treasurer.

Section 4.3. Associate Members. Individuals shall qualify as Associate Members who 1) have been employees of Institutional Members in a real estate capacity for a minimum of five years, 2) are no longer employed in that capacity, 3) have registered for and attended three Association conferences, and 4) are deemed to be a vendor of university real estate services by the Executive Committee, or as otherwise determined by the Executive Committee. For the purposes of this Section 4.3, a “vendor of university real estate services” shall mean any person who engages directly, or as the employee, partner, owner, principal, member or affiliate of an organization that engages, with college and universities as defined in Section 4.1 hereof with the intent of i) selling them goods or services, including without limitation planning, consulting, design, engineering, construction, appraisal, development, financing, environmental, and property, program or development management, or ii) selling, acquiring or leasing real estate or interests therein, or iii) developing or co-venturing real estate development. Associate Members shall apply for membership and shall pay dues as set by the Membership. The names of all Associate Members shall be available to any Institutional Member upon request to the Treasurer.

Section 4.4. Attendance. All Members, other employees and representatives of Institutional Members, Associate Members, Emeritus Members, and invited guests may attend Association meetings, provided said employees and representatives engage in an aspect of real estate administration, as defined in Article III..

Section 4.5. Membership Determination. The determination of Membership of any type shall be that of the Association, and such determination shall be final and conclusive.

ARTICLE V: AMENDMENT

This Constitution may be amended or repealed, in whole or in part, by a majority vote of the Association, provided that written notice of the proposed action shall be sent by first-class mail or by electronic media to each Institutional Member at least two weeks prior to the date of the meeting at which the vote on such action is to be taken.

ARTICLE VI: DISSOLUTION

The Association may be dissolved upon the three-fourths majority vote of its Institutional Members, provided that written notice of the proposed action shall be sent by first-class mail or by electronic media to each Voting Member at least one month prior to the date of the meeting at which the vote on such action is to be taken. Upon dissolution of the Association and payment of its outstanding liabilities, its assets shall be transferred to an organization or organizations to which contributions are deductible under the United States Internal Revenue Code of 1986, 26 USC Section 170(c)(2), or a successor section.